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New SEC rule affects charitable organizations as clients of family offices
  • Quarles & Brady LLP
  • USA
  • August 22 2011

Many wealthy families have established family offices that provide various services to family members

Collateral estoppel did not bar claim for implied charitable trust
  • Bryan Cave LLP
  • USA
  • April 17 2014

We occasionally see in the media and in our own posts, claims that a donation made to a charitable organization was not used in the way in which the

Some not-for-profitexempt organizations may have FBAR filing obligations
  • Proskauer Rose LLP
  • USA
  • March 29 2010

U.S. taxpayers, including not-for-profitexempt organizations, with a financial interest in or signatory authority over a foreign financial account are generally required to file the Report of Foreign Bank and Financial Accounts, Form TD F 90-22.1 (FBAR) with the Department of the Treasury each June 30 if the aggregate value of all of the U.S. person’s foreign financial accounts exceeds $10,000 at any time during the year

Eighth Circuit upholds formula disclaimer over public policy objections - Estate of Christiansen v. Commissioner
  • Proskauer Rose LLP
  • USA
  • January 21 2010

In a unanimous decision, the Eighth Circuit upheld over the IRS’ public policy objections a formula disclaimer which passed property to charity

The Tax Court disallows charitable deductions and imposes accuracy-related penalties for failure to substantiate equipment donations
  • Proskauer Rose LLP
  • USA
  • May 7 2010

The Tax Court disallowed a couple's charitable deductions and imposed accuracy-related penalties after finding they did not properly substantiate the contributions or provide contemporaneous written acknowledgements of their medical equipment donations

Giving in America today: recognizing, valuing and cultivating the impact of the individual
  • Bricker & Eckler LLP
  • USA
  • August 1 2011

Since 1956, the Giving USA Foundation has released a comprehensive annual report about charitable giving in the United States

The gift tax and contributions to section 501(c)(4) organizations: less than meets the eye?
  • Caplin & Drysdale, Chartered
  • USA
  • June 14 2011

News reports suggesting that the IRS has opened federal gift tax examinations of five donors to section 501(c)(4) nonprofit organizations have generated considerable concern over the past few weeks

The IRS will not apply the gift tax to Section 501(c)(4) donations . . . for now
  • Wiley Rein LLP
  • USA
  • September 15 2011

Ending months of speculation and uncertainty, the Internal Revenue Service (IRS) announced in July that it would no longer devote its resources to considering whether to levy a gift tax on donations by individuals to Section 501(c)(4) social welfare organizations

U.S. Court of Appeals upholds charitable deduction for preservation easements
  • Holland & Knight LLP
  • USA
  • June 27 2011

The U.S. Court of Appeals for the D.C. Circuit has ruled that a charitable deduction for two preservation (“façade”) easements in Logan Circle were valid, bringing to an end in the D.C. Circuit one of the longstanding challenges lodged by the Internal Revenue Service (IRS) against easement donations

IRS suspends for further study contributions to 501(c)(4) organizations
  • McGuireWoods LLP
  • USA
  • July 7 2011

In a directive issued today to IRS offices, the Service is suspending any further examination activity on the gift tax treatment of contributions to 501(c)(4) organizations